Forex MTN Range Scalper for mt4 (Metatrader 4) is a very good signals indicator that works exceptionally well in range-bound and sideways markets.
The indicator pops up in a separate MT4 chart window as a red/blue colored signals indicator that fluctuates above and below the 0.00 midpoint.
Buy & Sell Trade Example
- A new buy position should be opened as soon as the blue colored dot appears on the chart.
- A new sell position should be opened as soon as the red colored dot appears on the chart.
The Forex MTN Range Scalper indicator can be used for both trade entry and exit, or as an additional confirmation filter for other strategies and systems.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “forex-mtn-indicator.ex4” indicator for MT4
Indicator Example Chart (EUR/USD H4)
The example chart below displays the Forex MTN Range Scalper mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Forex MTN Range Scalper indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Signal oscillator
Does the indicator repaint? No.
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Download the “forex-mtn-indicator.ex4” indicator for Metatrader 4
